Atwood Eagle Wins Additional Work from BHP

Northwest Shelf, Australia
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Atwood Oceanics reports the Atwood Eagle has been awarded an additional contract by BHP Billiton Petroleum to drill eight firm wells with options for four additional wells off the Northwest coast of Australia. The contract provides for a dayrate of approximately $160,000 for the eight firm wells and approximately $170,000 for all option wells drilled. The drilling of the eight firm wells is estimated to take approximately ten months to complete and if all four option wells are drilled the contract could extend an additional three to four months. The award of this contract, along with the rig's current drilling commitments with Woodside Energy, Ltd. and BHP, should keep the rig employed off the coast of Australia into calendar year 2007.
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